New FTMO Traders talk about their Evaluation process

“It’s called a challenge because it’s going to challenge you.” That’s the feedback we received from one of our new FTMO Traders.  Learn some useful tips, tricks and observations of traders who battled in our Evaluation process to reach their FTMO Accounts. Congratulations to all!

Trader Etienne – “Focus on yourself, get some market experience, develop, create your own edge”

Has your psychology ever affected your trading plan?

Yes and it has been the last and most difficult obstacle in my trading journey that has been holding me back from becoming a profitable trader.

My technical/fundamental analysis has been on point for months and months before my breakthrough but I still couldn’t make consistent profits on a live account.

I realized that I wasn’t confident enough and that I needed to get more market experience.

The confidence push came over after months of practice (Demo trading/Backtesting) and when realized the correlation between my emotionless profitable demo trading and my emotional non-profitable Live trading.

At this point, my stats had been statically proving me that my strategy is profitable on a demo account so why couldn’t I make money on a live? One answer emotion. Trust your plan, wait for the good set ups, don’t be greedy, don’t fear to miss, don’t overtrade, let your pendings get filled. The sooner you understand and apply all of this, the sooner you’ll become a profitable trader.

Do you plan to take another FTMO Challenge to manage even bigger capital?

Yes, I plan to get the 200k challenge once I receive my first profit split and go on until I have the maximum funding capital of 400k USD.

What do you think is the most important characteristic/attribute to become a profitable trader?

Self trust and control of your emotions.

What inspires you to pursue trading?

The freedom that I get from it, I love the fact that I don’t have to deal or depend on anybody but on myself to pay my bills.

What was the hardest obstacle on your trading journey?

Like I said earlier, self trust & emotion control.

What is the number one advice you would give to a new trader?

Focus on yourself, get some market experience, develop, create your own edge & ideas and trust them because at the end of the day it’s a lone road and you could easily get lost in too many biased ideas of other traders.

 

Trader Franklin – “It’s called a challenge because it’s going to challenge you.”

 

 

How has passing the FTMO Challenge and Verification changed your life?

Passing the challenge and verification will give me an opportunity to trade a large capital and hence larger profit

Describe your best trade.

I can’t really choose the best trade but I will say that staying profitable even on your worst month should be the goal.

How did you manage your emotions when you were in a losing trade?

I think emotions play a huge part in trading. And it’s only human to feel them but what levels the field is risk management. So whatever trade I put out there is already calculated and accounted for in case it’s a loss. Due to this fact, I’d say my emotions are managed really well.

How does your risk management plan look like?

I risk about 0.5 percent per trade but I’m really good at capitalizing on winning trades which maximizes my gains.

What was easier than expected during the FTMO Challenge or Verification?

I realized when trading a large capital for the first time, it’s easier to lose money than expected.

One piece of advice for people starting the Challenge now.

Don’t give up just after some losses.It’s called a challenge because it’s going to challenge you.

 

Trader Pedro – “Always remember to have a trading plan set before attempting the FTMO Challenge.”

 

How did Maximum loss limits affect your trading style?

I had taken the challenge a few times before this final passing challenge and I can tell you that respecting the Maximum loss limits is CRUCIAL. It can be an easy thing to lose of and without proper risk management, it will make or break your ability to be profitable. After analyzing my trades I learned that I was allowing my emotions to play a huge role in my strategy and was actually hindering it rather than helping it. It really put my character and strategy to the test but I pursued my goals and achieved them by becoming a better trader overall.

Where have you learnt about FTMO?

I have learned that not just anyone can become an FTMO trader and be successful. It takes a lot of patience and discipline and as long as you have both you can become a huge asset to yourself and the company at the same time.

What was more difficult than expected during your FTMO Challenge or Verification?

The verification was much more difficult. This was so in my case because after passing two of the challenges I had signed up for I was very confident that I was gonna finish the verification faster and more easily which became a huge problem because I would not follow my plan all the way. When doing the verification you have to keep in mind that it is not over yet and nothing is secure for you so keep following your plan and respect the limits/risk at all costs.

How would you rate your experience with FTMO?

I am very pleased so far. FTMO has a great business structure, team, and content which pair up to make a great combination. I am looking forward to learning more alongside FTMO and work successfully side by side by becoming a valuable asset to the company.

How did you manage your emotions when you were in a losing trade?

After admitting to my errors and reviewing my trades I decided I would place the position and never move my stop loss at any time. If I lost then I lost that one percent and knew that if I followed my plan I would be profitable in the long run. When executing y trades I was lucky enough to have a majority be winning trades and very few drawdowns in the verification.

What would you like to say to other traders that are attempting the FTMO Challenge?

Always remember to have a trading plan set before attempting the challenge. Respect the limits at all costs and know that if you have all the above then the probabilities of passing the challenge will be much much higher. Remember that this is more of a challenge versus yourself and it can only take one poorly managed trade to put you back at the start. If you find yourself trying more than once, optimize and keep trying because if I was able to do it then I am sure anyone can as well

 

Trader Sterling – “Showing myself that I can pass the challenge is that bit of confidence that I needed”

 

How does your risk management plan look like?

My Risk Management plan is simple but effective, i go 0.7% in every trade and I only allow myself to lose two trades a day, im also picky with my trades, I want them to strictly adhere to my rules

What do you think is the most important characteristic/attribute to become a profitable trader?

For me is the mindset, once you understand that you are not going to become a millionaire trading with small acounts and big risk, and you put your focus in things like get funded i think your trading changes forever.

How has passing the FTMO Challenge and Verification changed your life?

It is something that I cannot explain, at this moment it is only the small account, but showing myself that I can pass the challenge is that bit of confidence that I needed, now I feel that I am at the door of something big and I can only think about working and work my way into the bigger accounts.

What was more difficult than expected during your FTMO Challenge or Verification?

I think, before enter the Challenge i use to calculate Risk to reward and say things like its easy, but i think is not, its about doing the things right.

How did you eliminate the factor of luck in your trading?

Thinking in probabilities and preparing a set of solid rules and a management that allows me to protect my capital until the work ends up paying.

What would you like to say to other traders that are attempting the FTMO Challenge?

The only thing I would like to tell you is, prepare yourselves, it is worth nothing to pass the challenge with trades who risk more than necessary and then not be able to maintain consistency in the results.